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29

November

Per Stirling Capital Outlook – November 2016

The most insightful comment from this year’s presidential election campaign may have come from the September 23rd edition of The Atlantic magazine, which said of President-Elect Trump, “The press takes him literally, but not seriously; his supporters take him seriously, but not literally.” Throughout the campaign, Trump was the ultimate enigma. From an investor’s perspective, […]

06

July

Per Stirling Capital Outlook – July 2016

Per Stirling Capital Outlook July 2016 - 01

We have noted on many occasions within the confines of these reports that capital markets thrive on certainty and struggle mightily when confronted with uncertainty, because investors know how to properly price securities when they understand the perceived risks and potential rewards associated with any given market environment, but tend to price in the perceived […]

21

June

Per Stirling Capital Outlook – June 2016

Per Stirling Capital Outlook June 2016 - 01

We open this writing with a 1912 photograph of a man crash-testing a football helmet not only in recognition of the fact that the long-awaited start of football season is finally approaching, but also because there is probably great similarity between how this product tester felt 104 years ago and how most global equity investors […]

17

February

Per Stirling Capital Outlook – February 2016

01 Per Stirling Capital Outlook Feb 2016

It seems like, all of a sudden, television and print media are full of stories about how the “stock market” may be entering into a “bear market,” and each respective reporter references one of the two most popular benchmark indexes (the Standard and Poor’s 500 Index and the NASDAQ Composite), neither of which has yet […]

30

December

Per Stirling Capital Outlook – December 2015

1 - Per Stirling Outlook December 2015

Warren Buffett famously noted that “only when the tide goes out do you discover who’s been swimming naked.” This quote has particular relevance today as we are finally starting to see free-market pricing mechanisms at work, as market-distorting forces ranging from the Federal Reserve’s expansive monetary stimulus programs to the O.P.E.C. oil cartel are increasingly […]


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